Freeburg, Illinois Property Taxes
The median property tax rate in Freeburg, IL is 2.57%, considerably higher than both the national median of 0.99% and the Illinois state median of 2.35%. With the median home value in Freeburg, the typical annual property tax bill reaches $4,439, exceeding the national median of $2,690. Property taxes in Freeburg are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Freeburg's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Freeburg or another part of the city, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Freeburg, Illinois Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
2.35%
Estimate Property Tax Bill
$4,700
Ownwell’s Freeburg Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Freeburg with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Freeburg to estimate your property tax bill. This insightful tool helps you understand potential tax liabilities. If you’re interested in seeing trends on a neighborhood level, scroll down to find more localized information. Your property’s assessed value is the value assigned by the county for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Freeburg, Illinois
Property taxes in Freeburg, Illinois, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Freeburg is 2.57%, significantly higher than both the Illinois state median and the U.S. national median of 0.99%. Local government entities within Freeburg set these rates annually, and they can vary significantly across different neighborhoods. Each year, Freeburg estimates its required budget to maintain services for the upcoming fiscal year, then divides this budget by the total value of all taxable property within the jurisdiction to calculate the property tax rate. While tax rates and budgets are influenced by laws and voter input, this calculation forms the basis of setting property tax rates. The data below compares Freeburg's effective property tax rate to other areas in Illinois and the national median. For comparison, the 62243 zip code has the highest median property tax rate of 2.57%, while the same zip code also has the lowest median tax rate of 2.57%. Understanding how these figures compare with Freeburg provides valuable insights into the varying tax landscape across St. Clair County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Freeburg Tax Rate
2.57%
Average St. Clair County Tax Rate
2.55%
Average Illinois Tax Rate
2.35%
Average United States Tax Rate
0.99%
Property Tax Rates Across Freeburg, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62243 | 2.03% | 2.38% | 2.57% | 2.72% | 2.89% |
Source: Ownwell
Property Tax Assessment Values Across Freeburg, Illinois
In Freeburg, Illinois, understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes. The market value is the price a willing buyer would pay a willing seller in an open and competitive market, influenced by factors like location, property condition, and economic trends. This value is estimated by the St. Clair County Assessor for tax purposes. In contrast, the assessed value is the market value minus any applicable exemptions or limits based on local laws and available programs. The assessed value is then used to calculate your property taxes by multiplying it by the combined tax rates of all relevant taxing entities. In Freeburg, assessment notices are typically mailed out in the spring, usually by mid-April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By understanding the distinction between these valuation concepts, property owners can better navigate their tax responsibilities and comprehend how their property taxes are determined. Being aware of these valuation processes in Freeburg helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Freeburg is $179,946, with the highest and lowest median tax bills both at $4,439 in the zip code 62243.
Average Freeburg Assessed Value
$179,946
Average St. Clair County Assessed Value
$110,946
Average Illinois Assessed Value
$194,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Freeburg, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62243 | $84,654 | $133,866 | $179,946 | $253,062 | $326,558 |
Source: Ownwell
Property Tax Bills Across Freeburg, Illinois
In Freeburg, located in St. Clair County, IL, property tax bills are calculated based on the assessed value of a home. The local assessor determines this value, which is a percentage of the property's market price. For instance, with a median home price of $179,946, the assessed value is used to calculate the tax bill. Various factors such as location, property size, and improvements are considered when determining the assessed value. Homeowners in Freeburg can expect their property tax bills to vary significantly. At the 25th percentile, the tax bill is around $3,114, while at the 75th percentile, it rises to approximately $6,434. For those at the 90th percentile, the tax bill can reach as high as $8,497. These figures highlight the range of property tax burdens within the community. Compared to the national median property tax rate of 0.99%, Freeburg's rates can be seen as relatively high, impacting homeowners by increasing their annual financial obligations.
Average Freeburg Tax Bill
$4,439
Average St. Clair County Tax Bill
$2,735
Average Illinois Tax Bill
$4,715
Average United States Tax Bill
$2,690
Property Tax Bills Across Freeburg, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 62243 | $1,709 | $3,114 | $4,439 | $6,434 | $8,497 |
Source: Ownwell